Bank of New York Mellon Corp boosted its stake in shares of FuelCell Energy, Inc. (NASDAQ:FCEL) by 13.3% during the first quarter, Holdings Channel reports. The firm owned 123,805 shares of the energy company’s stock after buying an additional 14,521 shares during the period. Bank of New York Mellon Corp’s holdings in FuelCell Energy were worth $170,000 at the end of the most recent reporting period.
Separately, AQR Capital Management LLC bought a new stake in FuelCell Energy during the fourth quarter worth $693,000. 14.52% of the stock is currently owned by institutional investors and hedge funds.
FuelCell Energy, Inc. (NASDAQ:FCEL) traded up 2.11% during trading on Friday, reaching $1.45. 115,622 shares of the company’s stock were exchanged. FuelCell Energy, Inc. has a 52-week low of $0.80 and a 52-week high of $5.67. The stock’s 50-day moving average price is $1.42 and its 200-day moving average price is $1.36. The company’s market capitalization is $86.38 million.
FuelCell Energy (NASDAQ:FCEL) last issued its quarterly earnings results on Thursday, June 8th. The energy company reported ($0.33) EPS for the quarter, missing analysts’ consensus estimates of ($0.27) by $0.06. FuelCell Energy had a negative return on equity of 44.42% and a negative net margin of 60.75%. The business had revenue of $20.40 million for the quarter, compared to analyst estimates of $19.30 million. During the same quarter last year, the firm earned ($0.56) earnings per share. The firm’s quarterly revenue was down 28.7% compared to the same quarter last year. Equities analysts expect that FuelCell Energy, Inc. will post ($1.12) earnings per share for the current year.
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A number of research firms have recently weighed in on FCEL. Zacks Investment Research downgraded shares of FuelCell Energy from a “buy” rating to a “hold” rating in a research report on Friday, June 9th. Cowen and Company decreased their price target on shares of FuelCell Energy from $2.50 to $2.00 and set an “outperform” rating for the company in a research report on Friday, June 9th. Finally, ValuEngine downgraded shares of FuelCell Energy from a “sell” rating to a “strong sell” rating in a research report on Friday, June 2nd. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. The stock currently has an average rating of “Hold” and an average target price of $1.75.
About FuelCell Energy
Fuelcell Energy, Inc delivers fuel cell power solutions. The Company is engaged in designing, manufacturing, installing, operating and maintaining fuel cell power solutions. The Company also provides turnkey power generation solutions to the customers, including power plant installation, operations and maintenance.
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